The number of Americans applying for unemployment benefits dropped last week, a sign that layoffs declined and the job market is improving.
The Labor Department said Thursday that jobless claims declined just 7,000 from the previous week to 411,000. The number of weekly applications for unemployment aid has fallen steadily this year from about 900,000 in January. The level of unemployment claims generally reflects the pace of layoffs.
As the pandemic fades, states and cities are lifting more business restrictions — California just fully reopened June 15 — and the economy is picking up as consumers are traveling, eating out more, and visiting movie theaters and amusement parks. Growth could top 10% at an annual rate in the April-June quarter, according to the Federal Reserve Bank of Atlanta.
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That rate is irrelevant, the rate that matters is how many are currently accepting unemployment and weather the rate is increasing or decreasing. Basically see if the of employment is greater than unemployment. If all empl